The renminbi is now “the fifth most active currency for global payments by value”, according to the financial messaging system Swift. Photo: Reuters The renminbi is now “the fifth most active currency for global payments by value”, according to the financial messaging system Swift. Photo: Reuters
The renminbi is now “the fifth most active currency for global payments by value”, according to the financial messaging system Swift. Photo: Reuters
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

In a world where the US dollar dominates, China must strike back by enhancing the yuan’s international appeal

  • Washington has the dollar and powerful legislation at its disposal, and can make life difficult for countries just by denying them access to the US financial system
  • Beijing needs to step up the pace of RMB internationalisation, to mitigate the risks to the Chinese economy

The renminbi is now “the fifth most active currency for global payments by value”, according to the financial messaging system Swift. Photo: Reuters The renminbi is now “the fifth most active currency for global payments by value”, according to the financial messaging system Swift. Photo: Reuters
The renminbi is now “the fifth most active currency for global payments by value”, according to the financial messaging system Swift. Photo: Reuters
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